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THE purpose of this paper is to examine the ways in which managerial ages may affect a company's growth rate. A brief discussion of the possible links between age of management and company growth is followed by presentation of the results of an empirical investigation of four UK Industries and fifty large US corporations.

This paper aims to adopt the mutuality perspective from the field of human resource management (HRM) to examine family firms, specifically human resource (HR) practices that are likely to be found in Thai family firms.

The cross-case analysis of three successful unreformed or authoritarian family firms in Thailand draws on semistructured interviews with top managers and/or HR managers as well as the employees of each family firm, field visits to each firm and a review of archival documents and Web-based resources.

This paper proposes that the recruitment of employees via alternative or substream recruitment channels (especially the recruitment of current employees’ relatives or family members), paternalistic employee relations practices and the management of aging employees, specifically with regard to the absence of retirement age, the facilitation of financial planning, reduced workload, the appointment of mentors/advisors and the encouragement of aging employees to transfer knowledge to younger generations tend to be found across Thai family firms, especially the unreformed or authoritarian type. These HR practices are implemented across family firms because they help to manage high levels of debt that have accumulated over many years so that employees attain financial literacy before retirement and to foster and maintain positive relationships between managers and employees across firms. These positive relationships thus foster the retention of capable and loyal, aging employees who have been developed within the firm and who have worked with the firm for a long time (so-called Look-Mor), leading to the maintenance of tacit knowledge and experience within firms and the alleviation of the problem of labor shortage. Theoretically, this paper proposes that a family-like corporate culture typically found in family firms serves as the antecedent to the adoption and implementation of those HR practices (so-called culture determinism). In particular, the fit between corporate culture and HR practices is likely to foster the strong commitment among employees to firms and the feelings of job security among these employees (so-called commitment match in the mutuality of the employment relationship).

An important limitation of this study concerns its methodology. Because this study is based on the case studies of only three unreformed or authoritarian family firms located in Thailand, the findings in this paper only propose substream or alternative HR practices that are likely to be found across Thai family firms; therefore, generalization to all other types of family firms and all other family firms across countries is not possible. Examining whether the HR practices proposed in this paper are uniquely found across family firms should be the subject of future research. Another limitation of this study is that it does not include firms located in other industries, such as the health-care industry and the hotel and restaurant industry. Future research could explore the HR practices implemented by family firms in these industries. Moreover, quantitative studies using large samples of family firms across industries might be useful in deepening the understanding of the HR practices implemented in family firms from the mutuality perspective on HRM.

This paper has practical implications for top managers and/or HR managers across firms not only in Thailand but also in other countries. First, top managers and/or HR managers across family firms, especially those of the unreformed or authoritarian type, should implement the HR practices proposed in this paper that are aligned well with a family-like corporate culture found in family firms to foster the strong commitment among employees to firms and the feeling of job security among these employees. Second, other types of firms (e.g. publicly owned corporations and multinational corporations) that do not have a family-like corporate culture may have to adapt some of these HR practices to their corporate culture and workplace atmosphere within their firms. Third, to manage and retain high-quality aging employees within firms, top managers and HR managers across various types of firms should implement some of the HR practices for managing aging employees proposed in this paper so that the firms can retain invaluable aging employees over time.

This paper provides social/policy implications for the government and/or relevant public agencies of Thailand and of several other emerging market economies. These governments should encourage the firms located in their countries to implement some of the HR practices proposed in this paper to maintain and support knowledgeable and skillful aging employees in their firms.

This paper contributes to the two main bodies of literature on HRM and family business in the following ways. First, most previous studies on HRM have focused on the mainstream HR practices used in large firms while neglecting the alternative or substream HR practices used in family firms. Additionally, relatively little research has specifically examined the mutuality perspective with regard to HRM. Thus, this paper extends the literature on HRM and family business settings regarding HR practices that are likely to be found across Thai family firms, corporate culture as an antecedent of the adoption and implementation of those HR practices, and the fit between corporate culture and HR practices with respect to mutuality in the employment relationship. Moreover, the literature on HRM has typically overlooked the underresearched country of Thailand; most studies in this area have primarily focused on developed countries or other emerging market economies, including China and India. The findings of this paper provide an in-depth analysis of HR practices that are likely to be found in family firms located in the emerging market economy of Thailand according to the mutuality perspective with regard to HRM.

To explore whether the ages of human resources (HR) managers has an impact on their perceptions of the qualities/characteristics of older and younger workers (i.e., manager attitudes) and on the implementation of age management initiatives to the benefit of older workers (i.e., manager behaviors). The paper aims to discuss this issue.

Based on theories concerning the origins of stereotypes and the concept of “in-group bias”, three hypotheses were tested on a sample of HR managers from 516 Italian companies extracted from the Gfk Eurisko database by using factor analyses and bivariate and multivariate tools.

The age of an HR manager seems to influence his/her attitudes towards older and younger workers, because HR managers judge workers of a similar age to them more positively. In contrast, the age of an HR manager does not seem to play a particular role in the implementation of age management initiatives. In the companies considered, however, there is a tendency to adopt early retirement schemes when the HR managers concerned are younger, while in general there is a tendency to implement age management initiatives and show a greater appreciation of older workers in larger companies.

The implementation of age management initiatives to the benefit of older workers may improve HR managers ' perceptions of those workers ' positive qualities. Furthermore, specific training may help HR managers recognize that both younger and older workers have useful albeit different strengths.

This study provides new empirical evidence from the Italian context on the largely under-investigated issue of the role played by age in shaping HR managers ' attitudes towards older workers, and age management policies in particular.

The purpose of this paper is to address four interrelated questions: what is the prevalence of ageism amongst employers? What are the factors conditioning employers’ age stereotypes? To what extent are ageist attitudes among employers translated into discriminatory recruitment, retention and firing practices? And what factors can moderate the stereotype–discrimination interaction?

The paper draws on a survey conducted among Danish employers; 2,525 completed the survey questionnaires; response rate 25 per cent.

The major finding is that ageist stereotypes among employers do not translate into discriminatory personnel management practices.

The findings may be specific to Denmark. Denmark is renowned to be a non-hierarchical, egalitarian society, which may have implications for personnel management practices.

Contrary to this study, most studies analysing ageist stereotypes do not assess the extent to which stereotypes are translated into discriminatory personnel management practices in the workplace.

This study aims to examine the impact of board characteristics on firm performance while also exploring the influential mechanisms that help Chinese listed companies establish effective boards of directors and strengthen their corporate governance mechanisms.

This paper uses machine learning methods to investigate the predictive ability of the board of directors' characteristics on firm performance based on the data from Chinese A-share listed companies on the Shanghai and Shenzhen stock exchanges in China during 2008–2021. This study further analyzes board characteristics with relatively strong predictive ability and their predictive models on firm performance.

The results show that nonlinear machine learning methods are more effective than traditional linear models in analyzing the impact of board characteristics on Chinese firm performance. Among the series characteristics of the board of directors, the contribution ratio in prediction from directors compensation, director shareholding ratio, the average age of directors and directors' educational level are significant, and these characteristics have a roughly nonlinear correlation to the prediction of firm performance; the improvement of the predictive ability of board characteristics on firm performance in state-owned enterprises in China performs better than that in private enterprises.

The findings of this study provide valuable suggestions for enriching the theory of board governance, strengthening board construction and optimizing the effectiveness of board governance. Furthermore, these impacts can serve as a valuable reference for board construction and selection, aiding in the rational selection of boards to establish an efficient and high-performing board of directors.

The study findings unequivocally demonstrate the superiority of nonlinear machine learning approaches over traditional linear models in examining the relationship between board characteristics and firm performance in China. Within the suite of board characteristics, director compensation, shareholding ratio, average age and educational level are particularly noteworthy, consistently demonstrating strong, nonlinear associations with firm performance. Within the suite of board characteristics, director compensation, shareholding ratio, average age and educational level are particularly noteworthy, consistently demonstrating strong, nonlinear associations with firm performance. The study reveals that the predictive performance of board attributes is generally more robust for state-owned enterprises in China in comparison to their counterparts in the private sector.

This paper examines the human resource (HR) strategies and practices that are considered to be particularly beneficial for aging employees in organizations in Thailand, which is an underresearched developing economy, from an employee perspective and the implications of national institutions and cultures for the adoption and implementation of those HR strategies and practices across organizations.

The results of the study, based on a cross-case analysis of seven organizations across industries, are primarily drawn from structured interviews and focus groups with aging employees, field visits and a review of archival documents and web-based resources, including newspaper reports and magazines.

This paper proposes that HR strategies that are appropriate for managing aging employees in organizations in Thailand’s developing economy can be classified into four bundles: growth, maintenance, recovery and regulation. Each bundle of HR strategies consists of several HR practices that are appropriate for managing aging employees in organizations. In particular, from the perspective of aging employees, these HR practices help aging employees upgrade their skills, prepare them to have a sufficient amount of financial savings after retirement, ensure that they are safe, secure and healthy, help them feel that their tacit knowledge and experience are still valuable, and help them perform jobs that are appropriate for their physical health conditions. Additionally, the adoption and implementation of the proposed HR strategies and practices tend to be influenced by national institutions in terms of deficiencies in the national skill formation system, healthcare institutions, regulatory institutions and welfare state regime and by the national culture in terms of reciprocity and respect for elderly people (i.e. aging employees). However, there are five important HR practices that are specifically appropriate for managing aging employees in Thailand and other developing economies where the level of household debt and/or personal debt is high, where the increasing number of aging employees leads to high demand for medical services when the medical services offered by private hospitals are expensive, and where tacit knowledge and experience are important for creating and maintaining firms’ competitive advantage: (1) the facilitation of financial planning, (2) safety and health training, (3) annual health check-ups, (4) the appointment of aging employees as advisors/mentors and (5) knowledge transfer/job enrichment.

One of the limitations of this research is its methodology. Because this research is based on case studies of seven firms located in Thailand, the findings may not be generalizable to all other firms across countries. Rather, the aim of this paper is to further the discussion regarding HR strategies and practices for managing aging employees in organizations. Another limitation of this research is that it does not include firms located in several other industries, including the agricultural and fishery industry and the financial services industry. Future research may explore HR strategies and practices for managing aging employees in organizations located in these industries. Moreover, quantitative studies using large samples of aging employees who work in firms across industries might also be useful in deepening the understanding of HR strategies and practices for managing aging/retired employees in organizations.

This paper provides practical implications for top managers and/or HR managers of firms in Thailand and other developing economies where the level of household debt and/or personal debt is high, where the increasing number of aging employees leads to high demand for medical services when the medical services offered by private hospitals are expensive, and where tacit knowledge and experience are important for creating and maintaining firms’ competitive advantage. In particular, the aging employees in this study identified the HR practices that they perceive as being appropriate for aging employees and that were already available in firms or that they expect their firms to have but are currently missing. In this regard, HR managers should take note of these good and appropriate HR practices to ensure that they become part of official, structured HR strategies and practices. This would ultimately help line managers and aging employees think more positively about the future of aging employees within the company and help retain invaluable aging employees over time.

This paper provides social/policy implications for the government and/or relevant public agencies of Thailand and several other developing economies where the majority of aging people do not have sufficient savings to support themselves after retirement, especially when these countries are becoming aging societies, where the increasing demand for medical services cannot be adequately addressed by existing public hospitals while private hospitals’ medical prices are quite expensive, and where intellectual property right (IPR) protection laws are weak. That said, such governments should encourage firms located in their countries to implement these HR strategies and practices for developing, maintaining, deploying and supporting aging employees.

This paper aims to contribute to the literature on human resource management (HRM), specifically on HR practices for aging employees, in the following ways. First, this study is different from the previous studies in that it examines HR practices for managing aging employees from an employee perspective, while most of the previous studies in this area have focused on the management of such employees from an employer perspective. In this case, it is possible that formal company policies may be different from actual HR practices as perceived by aging employees (Khilji and Wang, 2006). Second, this paper explores the implications of national institutions and cultures of Thailand’s developing economy for the adoption and implementation of HR strategies and practices that are appropriate for managing aging employees in organizations. Finally, this paper examines HR practices that are specifically appropriate for managing aging employees in Thailand and other developing economies. The literature on HR practices for aging employees has overlooked developing economies, including the underresearched country of Thailand, as most of the studies in this area have focused on developed economies. In fact, developed economies and developing economies are very different in several respects, which may influence the HR strategies and practices that are appropriate for managing aging employees in organizations.

The paper aims to investigate the effect of firm age and size on profitability and productivity of construction firms in India. It also attempts to understand the indirect effect of firm age and size on profitability mediated through firm's productivity.

Data of 64 construction firms, for a period of 12 years (2006–2017), were collected. In order to measure the direct and indirect effect of size and age on profitability and productivity, a structural equation model was developed. In the structural models, productivity is a latent variable measured through proxies of material productivity (MP), labor productivity (LP) and equipment productivity (EP). The profitability is measured using three financial ratios: return on asset (ROA), return on capital employed (ROCE) and return on net worth (RONW). Then the direct and indirect effect of age and size is measured on ROA, ROCE, RONW and productivity.

The findings of the study suggest that age has a direct negative effect on profitability; however, it has an indirect positive effect on profitability, which is mediated by firm's productivity. This positive indirect effect compensates the direct negative effect and leads to an overall positive effect of firm age on profitability. However, firm size shows no effect on profitability and productivity.

To the best of authors’ knowledge, the study is the first attempt to measure the indirect effect of age and size on profitability, mediated through productivity. The study also examines the interrelationship among firms’ profitability and productivity and bridges an important research gap. The study proposes an integrated theoretical framework with a clear view of the interrelationships among age, size, profitability and productivity for construction firms in India, which can be further tested and validated for generalization.

The purpose of this paper is to test the density dependence theory and explain the deep changes that the Chinese construction industry is experiencing. Focusing on both organizational level and industry level, it aims to identify the factors and to show how these factors affect the mortality of the Chinese construction companies.

The Jiangsu construction industry is chosen as a proxy of the Chinese market. With the event history analysis method and life history data on all companies known to have operated during the period 1989‐2007 in Jiangsu, an expanded Cox model is established to achieve the purpose.

The construction industry level evolution plays an important role on exit rate of construction companies; however, this effect does not conform with density dependence as expected, and it interacts with organizational age. Besides, age and size of organizational level, and macro environment also act on mortality.

Owing to the difficulty in data acquisition, only 19 years of the Jiangsu construction industry have been reported here, which may not provide the whole picture of the evolution process. Furthermore, the different ending events, such as disbanding and merge, have not been identified, which may affect the results to some extent.

The paper provides a new perspective to analyze the evolution of the Chinese construction industry and the mortality of construction companies.

This is the first article that applies the density dependence theory to analyze the evolution process of the construction industry. It is also the first attempt to analyze the interaction of density, macro factors and organizational age, which is a contribution to the organizational ecology theory and the study of construction industry development.

The objectives of this paper are to examine the level of environmental disclosure in annual reports made by Malaysian public listed companies for the year ended 2009, and to investigate whether there are any relationships between board characteristics (board size and board independence), firm characteristics (business type) and human capital characteristics (age, knowledge background and proportion of female directors) and environmental disclosure in Malaysian public listed companies' annual reports for the year ended 2009.

The study constructs the environmental disclosure index with 11 disclosure themes based on research by Sharifah et al. to determine the environmental disclosure level. The study uses content analysis to find the environmental disclosure items and constructs an environmental disclosure index from the companies' annual reports. Hierarchical regression analysis is used to examine the relationships between the environmental disclosure index and board characteristics (board size and board independence), firm characteristics (business type) and human capital characteristics (age, knowledge background and proportion of female directors).

The results of the study reveal that there is a significant relationship between the existence of an independent non-executive chairman, the chairperson's age, the existence of a CEO with a law background and the industry type with the extent of environmental disclosure. The industry type is found to be the most significant variable that influences the level of environmental disclosure in Malaysian public listed companies for the year ended 2009.

The findings are limited to Malaysian public listed companies for the year January to December 2009. The source of the data used in this study is companies' annual reports only. This study has several implications that may apply in many countries, irrespective of whether they are developing or developed countries. First, it provides strong evidence to show that boards of directors and human capital are significant variables in the extent of disclosure. Second, it is useful to managers, especially to boards of directors in Malaysia, in identifying board characteristics and human capital characteristics that could improve companies' environmental activities; these could be disclosed in the interest of stakeholders and the public's environmental concern. Third, this study can also be used as an initial step for companies in to be involved in environmental activities. Prior studies have proved that these activities could enhance companies' image and reputation and could offer financial benefits to the business.

The study extends the previous studies by the inclusion of human capital characteristics as a factor that influences environmental reporting in Malaysia. This study has demonstrated that to mitigate the agency problems between firms and shareholders, society and stakeholders, and particularly environmental impact, the inclusion of human capital characteristics as an indicator may help to reduce expected costs and negative impacts on firm value, and may also demonstrate to society and the company's stakeholders that individual firms are doing their part to help solve society's social and environmental problems through additional disclosures.

The purpose of this paper is to give an indication of the quantity of intellectual capital information in Japanese initial public offering (IPO) prospectuses from all stock exchange listings on the Japan Stock Exchange from 2003.

The paper applied a disclosure index consisting of 78 items to quantify the amount of information regarding intellectual capital included in the IPO prospectuses of Japanese companies. An analysis of variance (ANOVA) was used to test, controlling for technological type of the company (high‐tech/low‐tech), and whether the extent of managerial ownership prior to the IPO, company age and company size influenced disclosure.

From the analyses conclusions are derived for four hypotheses. The hypotheses “industry differences” (H1), “managerial ownership” (H2) and “company size” (H3) were found not to be significant factors explaining voluntary disclosure of information. The fourth factor, “company age” (H4), did, however, have a significant influence on the extent of disclosure for Japanese companies. Further testing of the Japanese companies regarding age showed a continuing trend.

Although Japan has been strongly associated with the concept of the knowledge society, Japanese studies regarding intellectual capital have been very scarce. No studies, to the best of one's knowledge, have examined the specific disclosure of intellectual capital information included in Japanese IPO prospectuses.